🌊Spot Bitcoin ETF Inflows Ramp Up As Grayscale Outflows Recede

The Defiant's daily newsletter recaps all of the hottest news across web3 for Feb. 12.

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Inflows to spot Bitcoin ETFs is ramping up as outflows from the Grayscale Bitcoin ETF continue to fall. Roughly $1.1B flows into Bitcoin ETFs between Feb. 7 and Feb. 9, with only $234M exiting Grayscale's ETF over the same period.

In other news, Layer 2 teams are embracing a new standard designed to bolster the compatibility of smart contract execution with mainstream tech, top liquid restaking project teamed up to launch a new pool on Balancer, and Citrea is bringing zk-rollups to Bitcoin.

✍️ In today’s newsletter:

Bitcoin ETF inflows on the rise
Layer 2 teams embrace RIP-7212
Swell, EtherFi, and Renzo team up on Balancer pool
Citrea plans to debut zk-rollup on Bitcoin

🎙️The Defiant Podcast & Interviews:

Creating asset-backed stablecoins with the Reserve protocol

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Check out our discussion with Tina and Teddy to learn more about EigenLayer, the pioneering Ethereum restaking protocol. Also watch our podcast with Terraform Labs CEO, Chris Armani, to find out about the project's strategic pivot and the company's decision to file for bankruptcy.

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